TechFlow news, according to Fortune magazine, Coinbase considered acquiring FTX Europe in November 2022 following FTX's collapse, and again in early September 2023, aiming to build a global crypto derivatives offering. However, according to a person familiar with the matter, Coinbase is no longer considering this potential deal.
Documents reviewed show that while acquisition talks never advanced to a later stage, Coinbase’s interest in FTX Europe highlights the growing importance of derivatives to its global business strategy as spot trading volumes sharply declined during the bear market.
Although FTX Europe has drawn interest from major cryptocurrency firms in recent months, the debtor’s asset committee has deemed an acquisition unfeasible. A spokesperson said in a statement shared with "Fortune" in July: “Professional advisors to the FTX debtors have concluded there is no viable path to a sale.”
Prior to this, both Crypto.com and FTX FDM had expressed interest in acquiring FTX Europe. According to FTX Europe financial data provided by "Fortune," the platform had been consistently adding tens of thousands of users up until its parent company’s bankruptcy.
